College Admission Rates
A random sample of 10 colleges from Kiplinger's 100 Best Values in Public Education was taken.
A 95% confidence interval for the mean admission rate was (52.8%, 75.0%). The rates of admission were Normally distributed.
Which of the following statements is a correct interpretation of the confidence level, and which is the correct interpretation of the confidence interval?
a. We are confident that the mean admission rate is between 52.8% and 75.0%.
b. In about 95% of all samples of 10 colleges, the confidence interval will contain the population mean admission rate.